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AUDIT

Statutory Audit 

All corporations (spa) must have an “Statutory Audit Board” composed by three Auditors, while limited companies (srl) must have an “Statutory Audit Board” if:


1) their Articles of Association requires it.

 

2) for two subsequent financial years, the company has passed two of the following three limits:

    a) total assets on the balance sheet: euro 4,400,000;
    b) earnings from sales and provisions of services: euro 8,800,000;
    c) average number of staff employed during the financial year: 50 units.

 

3) the company controls a subsidiary that has a Statutory Audit.

 

The Statutory Audit Board is  entrusted to verify and monitor the compliance in the following areas:

    - compliance with the law and the by-laws of the company;
    - correct administration and internal controls;
    - adequate and reliable organizational and administrative structure;
    - adequate and reliable accounting system.

 

The Statutory Audit Board comprises three members and  must perform a quarterly audit and provide a report on the financial statements.
For limited company (srl) a sole Auditor can be appointed instead of the Internal Audit Board.
The remuneration of the Auditors is set by the stockholders in conformity with a fee schedule established by a CPA tariff.


LDP Audit Services 


LDP provides Statutory Audit services as an integral tool for corporate success, thus providing evidence to stakeholders that financial results are reported in accordance with applicable standards.
As more companies outsource business services, they rely on independent Auditors to properly assess the controls used by those service providers. Our approach is to first understand the business and the risks it faces and then to focus our efforts where it matters most. Our method is both effective and cost efficient.
Our services:

  • member of Statutory Audit Board;
  • Voluntary Financial Statement and Consolidated Balance sheet Audit;
  • Audit in compliance of US GAAP.


We consider that our job is to keep our clients informed day by day of all accounting, financial and regulatory developments that may impact their business. 

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LDP provides services for Multinational Companies that wish to invest in Italy. Our Clients come from all over the world and including some listed companies. Our quick roll out involves not only company formation but also the setting up of an accounting system, a reporting package, payroll and legal services, immigration, social security management, contracts of employment and transfer price compliance. This is the easiest and most correct way to do business in Italy. LDP services allow our clients to focus on developing their business in Italy thus saving time and money. Our One-point-of-Contact business model effectively and efficiently matches your requirements with tailor-made solutions, saving you valuable time and resources. LDP have a special focus also in M.&A. in particularly in providing assistance for data room, due diligence, drafting of S.P.A. and assistance during the negotiation phase. LDP will support you on every step to making business in Italy.

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